Saudi Arabia: our oil exports will reach less than 7 million barrels a day

Saudi Energy Minister Khalid Al-Falih said the Kingdom's oil exports would rise to less than 7 million barrels in March and April 2019.

"The Kingdom's exports in April will be about 100,000 barrels a day below the March level," Al-Falih said in a press release at the end of the OPEC meetings. in Baku.

He added "that there is an increase in oil stocks, despite the decline in production of Iran and Venezuela".

The Saudi oil minister pointed out that the compliance rate of OPEC + in March would be "above 100%", pointing out that Saudi oil production would not continue "indefinitely" to offset shipments of oil. other producers.

Al-Faleh urged OPEC and its allies to stay on track for compliance with the recently agreed reduction in oil production, at least expiring from the current global agreement to reduce supplies.

Source: Reuters